Bitcoin signals historic bottom, analyst says
CryptosRUs, a popular cryptocurrency YouTuber with over 666,000 subscribers, believes several technical and fundamental indicators suggest the bottom is near for Bitcoin. In a livestream video on Oct. 11, CryptosRUs analyzed the latest crypto market trends and pointed out signs that Bitcoin is oversold and due for a rally. One of the key indicators CryptosRUs highlighted is the Relative Strength Index (RSI), a technical analysis tool that measures whether an asset is overbought or oversold. The RSI for Bitcoin recently hit low levels, indicating the cryptocurrency is oversold. “This is one of the most basic indicators out there for charts. RSI measures whether or not Bitcoin is oversold or overbought. […] We’re oversold.” CryptosRUs, YouTube analyst CryptosRUs pointed out that the RSI is signaling similar conditions now as during previous Bitcoin bottom formations. You might also like: Bitcoin price drops below $27k despite high social volume ...